jswizzle3737/ontario_laws_and_regs huggingface dataset:
Application
 1. This Regulation applies to every municipal electricity utility that is required to make a payment under section 93 of the Act.  O. Reg. 162/01, s. 1.
Interpretation, ss. 8.2 and 11.1
 1.1 (1) A corporation is an eligible corporation at a particular time in a taxation year for the purposes of subsection (2) and sections 8.2, 11.1 and 11.2 if the corporation is liable to make a payment under section 89, 90 or 93 of the Act for the taxation year.  O. Reg. 141/09, s. 1; O. Reg. 111/16, s. 1 (1). (2) A partnership is an eligible partnership at a particular time for the purposes of sections 8.2, 11.1 and 11.2 if each member of the partnership is, at that time, (a) an eligible corporation; or (b) a partnership in which all of the partnership interests are held directly or indirectly by corporations that are eligible corporations.  O. Reg. 141/09, s. 1; O. Reg. 111/16, s. 1 (2).
Definitions
 2. In this Regulation, “collection agreement” has the meaning assigned by subsection 1 (1) of the Taxation Act, 2007; “Federal Act” means the Income Tax Act (Canada); “Federal Regulations” means the regulations made under the Federal Act; “transfer by-law” and “transferor” have the meanings assigned by section 141 of the Act.  O. Reg. 162/01, s. 2; O. Reg. 141/09, s. 2.
Modifications to method of calculating amount of payment
 3. (1) The method of calculating the amount of a payment required by subsection 93 (1) of the Act is modified by the rules set out in sections 3.1, 4 and 5 to 12 of this Regulation.  O. Reg. 141/09, s. 3. (2) The method of calculating the amount of a payment required by subsection 93 (2) of the Act is modified by the rules set out in sections 3.1 and 5 to 12 of this Regulation.  O. Reg. 141/09, s. 3. (3) The method of calculating the amount of a payment required by subsection 93 (2.1) of the Act is modified by the rules set out in sections 3.1 and 4.1 to 12 of this Regulation.  O. Reg. 141/09, s. 3.
Tax exempt status
 3.1 The following rules apply to a municipal electricity utility for each taxation year ending after December 31, 2008: 1. The Federal Act, the Corporations Tax Act and the Taxation Act, 2007 apply to the utility for the year as if the corporation were not exempt from tax under any of those statutes throughout the taxation year and throughout each previous taxation year for which payments were required under section 93 of the Act. 2. Except for the purpose of applying subsection 149 (10) of the Federal Act, the utility is considered to be exempt from tax under each of those statutes listed in paragraph 1 throughout each taxation year for which a payment is not required under section 93 of the Act.  O. Reg. 141/09, s. 3.
Application of Federal Act and Federal Regulations
  4. The following rules apply in the application of the Federal Act and the Federal Regulations in determining the amount of a payment required by subsection 93 (1) of the Act: 1. Subject to paragraph 1.1, sections 150 to 180 and 220 to 244 of the Federal Act do not apply. 1.1 Subsection 237.1 (6) of the Federal Act applies in determining the amount of a payment required under subsection 93 (1) of the Act for a taxation year ending after February 9, 2007. 2. References in the Federal Act and in the Federal Regulations to the “Minister of National Revenue” or to the “Minister” shall be read as references to the Minister of Finance. 3. If the Federal Act or the Federal Regulations require an election, designation or other document to be filed with the Minister of National Revenue, it must be filed instead with the Minister of Finance.  O. Reg. 162/01, s. 4; O. Reg. 672/05, s. 1; O. Reg. 29/07, s. 1.
Application of the Taxation Act, 2007
 4.1 The following rules apply to a municipal electricity utility for the purposes of determining the amount of a payment under subsection 93 (2.1) of the Act for a taxation year ending after December 31, 2008: 1.  The Taxation Act, 2007 applies, i. as if a collection agreement were not in effect, and ii. as if each adjustment required to be made under or because of any of sections 5 to 12 of this Regulation were, to the extent applicable, made for the purposes of the Federal Act. 2. The amounts determined under the Federal Act or the Corporations Tax Act for the purposes of subdivision d of Division B of Part III of the Taxation Act, 2007 are deemed to be those amounts as determined for the purposes of subsection 93 (1) or (2) of the Act, as the case may be. 3. The rules in paragraphs 2 and 3 of section 4 apply in so far as the Federal Act and the Federal Regulations are relevant for the purposes of the Taxation Act, 2007. 4. Despite any other provision of this Regulation, the utility’s taxable income for the taxation year for the purposes of section 93 of the Act is equal to its taxable income for the year under the Federal Act, except to the extent that there is a difference in the amounts resulting from the application of section 110 of the Taxation Act, 2007.  O. Reg. 141/09, s. 4.
Private corporation
  5. A municipal electricity utility shall be deemed to be a private corporation.  O. Reg. 162/01, s. 5.
Taxation year
 6. (1) The first taxation year of a municipal electricity utility ending after October 1, 2001 ends on the same day as the utility’s first fiscal period ending after October 1, 2001.  O. Reg. 162/01, s. 6 (1). (2) The utility may change the day on which a subsequent taxation year ends only with the consent of the Minister of Finance.  O. Reg. 162/01, s. 6 (2).
Special rules
 8. (1) The following rule applies in determining a municipal electricity utility’s income for its first taxation year ending after October 1, 2001: 1. The utility shall be deemed to have deducted under section 20 of the Federal Act an amount determined as if the utility, i. had always been a corporation subject to tax under that Act, and ii. had claimed or deducted in its prior taxation year the maximum amounts that it would have been entitled to claim and deduct under that section as a reserve for that prior taxation year.  O. Reg. 162/01, s. 8 (1); O. Reg. 172/02, s. 2. (2) The following rules apply in determining a municipal electricity utility’s income, taxable income and amount payable under section 93 of the Act for a taxation year ending after October 1, 2001: 1. The utility is not entitled to deduct an amount in respect of any expense or loss incurred before October 1, 2001. 2. The amount of any deduction from the amount that would otherwise be payable under section 93 of the Act is determined as if the utility were a corporation incorporated on October 1, 2001.  O. Reg. 162/01, s. 8 (2). (3) Subsections (1) and (2) do not apply to a municipal electricity utility that is subject to tax under the Federal Act or the Corporations Tax Act immediately before its first taxation year under section 93 of the Act ending after October 1, 2001.  O. Reg. 162/01, s. 8 (3).
Gifts to municipalities
 8.1 In computing the taxable income of a municipal electricity utility for the purposes of determining an amount payable under section 93 of the Act for a taxation year ending after March 22, 2006, no deduction may be made in respect of a gift made after that day to a municipal corporation or a police village.  O. Reg. 29/07, s. 2.
Rollovers
 8.2 Section 85 and subsection 97 (2) of the Federal Act do not apply on a disposition of property unless, (a) the transfer occurs in a taxation year of the transferor that ends after October 1, 2001; and (b) the transferee is an eligible corporation or eligible partnership immediately before and immediately after the disposition.  O. Reg. 141/09, s. 5.
Renewable energy generation facilities
 8.4 (1) Subsection (2) applies if a municipal corporation, a municipal services board, a city board or municipal services corporation (referred to in this section as an “entity”) generates electricity in accordance with subsection 144 (2) of the Act.  O. Reg. 276/12, s. 1. (2) The calculation of an entity’s required payment under section 93 of the Act for a taxation year ending after September 8, 2009 is determined on the basis, (a) that the only businesses or other activities carried on by the entity are those businesses and activities that relate to a generation facility described in clause 144 (2) (a) or (b) of the Act; and (b) that the only properties held by the entity are those properties that relate to the generation facility.  O. Reg. 276/12, s. 1.
No inter-provincial allocation 
 9. For the purposes of sections 39, 57.6 and 67 of the Corporations Tax Act and the definition of “Ontario allocation factor” in subsection 1 (1) of the Taxation Act, 2007, a municipal electricity utility that would otherwise have a permanent establishment in a jurisdiction other than Ontario shall be deemed not to have a permanent establishment in that jurisdiction if the utility is not subject to taxation under the laws of that jurisdiction on its income and on its capital.  O. Reg. 162/01, s. 9; O. Reg. 141/09, s. 6.
Income earned through other entities
 10. (1) Subsection (2) applies to a municipal electricity utility for a taxation year if the following conditions are satisfied: 1. The utility owns at the end of the taxation year, i. at least one share of a corporation that generates, transmits, distributes or retails electricity at any time in the utility’s taxation year, ii. at least one share of a corporation that is related at the end of the utility’s taxation year to a corporation described in subparagraph i, or iii. shares having a fair market value equal to at least 10 per cent of the fair market value of all issued and outstanding shares of a corporation that is not a corporation described in subparagraph i or ii. 2. The corporation meets all of the following conditions for its taxation year that ends during or on the same day as the utility’s taxation year: i. The corporation is not subject to tax under the Federal Act by reason of subsection 149 (1) of that Act or is not subject to income tax under the laws of a jurisdiction in which the corporation would have a permanent establishment for the purposes of the Taxation Act, 2007 or section 4 of the Corporations Tax Act, as the case may be. ii. The corporation is not required to make a payment under section 89, 90 or 93 of the Act.  O. Reg. 162/01, s. 10 (1); O. Reg. 141/09, s. 7 (1). (2) For the purposes of determining the utility’s income for the taxation year and its taxable paid-up capital or taxable capital for the year, the corporation is treated as if it were a partnership in which the utility’s ownership interest in the partnership is equal to the fraction of the partnership’s income and capital calculated using the formula, A/B in which, “A” is the fair market value of the issued and outstanding shares of the corporation that are owned by the utility, determined as of the last day of the corporation’s taxation year ending in or on the same day as the utility’s taxation year, and “B” is the fair market value of all of the issued and outstanding shares of the corporation, determined as of that day. O. Reg. 162/01, s. 10 (2); O. Reg. 141/09, s. 7 (2).
Reduction on disposition of subsidiary
 11. (1) This section applies if a municipal electricity utility disposes of shares of a subsidiary and, as a result of the disposition, subsection 149 (10) of the Federal Act applies to the subsidiary.  O. Reg. 162/01, s. 11 (1). (2) The amount, if any, otherwise payable by the utility under section 93 of the Act as a consequence of the disposition of the shares is reduced by the amount, if any, payable by the subsidiary under that section, determined as if the subsidiary’s only income in the taxation year in which the disposition occurs is its income resulting from the deemed disposition of its assets under subsection 149 (10) of the Federal Act.  O. Reg. 162/01, s. 11 (2).
Disposition of partnership interest, before April 23, 2015
 11.1 (1) Subsection 100 (1) of the Federal Act does not apply for the purposes of determining the amount of a payment required by section 93 of the Act in respect of a disposition after December 31, 2007 and before April 23, 2015.  O. Reg. 141/09, s. 8; O. Reg. 111/16, s. 2 (1). (2) Despite the application of paragraph 38 (a) of the Federal Act, as it applies for the purposes of determining the amount of a payment required by section 93 of the Act, a municipal electricity utility’s taxable capital gain for a taxation year from the disposition after December 31, 2007 and before April 23, 2015 of an interest in a partnership to any person or partnership that is not an eligible corporation or eligible partnership is deemed to be the sum of, (a) one-half of the portion of the utility’s capital gain for the year from the disposition of the interest that may reasonably be regarded as attributable to increases in the value of any partnership property of the partnership, other than depreciable property, that is capital property; and (b) the whole of the remaining portion of the capital gain.  O. Reg. 141/09, s. 8; O. Reg. 111/16, s. 2 (2).
Disposition of partnership interest, after April 22, 2015
 11.2 For the purposes of determining the amount of a payment required by section 93 of the Act in respect of a transaction or event that occurs after April 22, 2015, section 100 of the Federal Act, other than subsections (1.1), (1.2) and (1.3), applies with the following modification: 1. The references in subsections 100 (1) and (1.4) of the Federal Act to a person or partnership described in any of paragraphs 100 (1.1) (a) to (d) of that Act shall be read as references to a person or partnership that is not an eligible corporation or eligible partnership under section 1.1 of this Regulation. O. Reg. 111/16, s. 3.
Return
 13. (1) If a municipal electricity utility is required to make a payment under subsection 93 (1) of the Act for a taxation year, it shall deliver to the Minister of Finance a return for the taxation year, in the form and containing the information required by section 150 of the Federal Act.  O. Reg. 162/01, s. 13 (1). (2) If a municipal electricity utility is required to make a payment under subsection 93 (2) of the Act for a taxation year, it shall deliver to the Minister of Finance a return for the taxation year, in the form and containing the information required by section 75 of the Corporations Tax Act.  O. Reg. 162/01, s. 13 (2). (3) If a municipal electricity utility is required to make a payment under subsection 93 (2.1) of the Act for a taxation year, it shall deliver to the Minister of Finance a return for the taxation year in the form and containing the information required by section 111 of the Taxation Act, 2007 and such other information as the Minister of Finance may require for the purposes of determining the amount payable for the year.  O. Reg. 141/09, s. 10. (4) For the purposes of applying Parts V and VI of the Corporations Tax Act, a return under subsection (3) is deemed to be a return required by section 75 of the Corporations Tax Act.  O. Reg. 141/09, s. 10. (5) A municipal electricity utility that is required to deliver a return under subsection (1), (2) or (3) shall deliver the return not more than six months after the end of the taxation year to which the return relates.  O. Reg. 141/09, s. 10.